Jim Chanos is still short Hewlett Packard (HPQ, Financial).
The founder of Kynikos and Associates is bearish on hardware as most data continues to move towards the cloud.
"We've been talking about the concept of global value traps for the better part of a year, which is areas where investors continue to hope that basically a broken business plan will somehow be righted by the fact the stock is cheap. These have not been working for most investors. They've been great shorts and one area that we think is just going to continue to stay under pressure, investors should voice the whole PC chain, and Apple as well as the cloud are changing fundamentally the way we gather data. Interestingly we're long Microsoft and Oracle against our HPQ short and I think that there's a variety of reasons for that."
The founder of Kynikos and Associates is bearish on hardware as most data continues to move towards the cloud.
"We've been talking about the concept of global value traps for the better part of a year, which is areas where investors continue to hope that basically a broken business plan will somehow be righted by the fact the stock is cheap. These have not been working for most investors. They've been great shorts and one area that we think is just going to continue to stay under pressure, investors should voice the whole PC chain, and Apple as well as the cloud are changing fundamentally the way we gather data. Interestingly we're long Microsoft and Oracle against our HPQ short and I think that there's a variety of reasons for that."
